"The password has been hashed client side and just the first 5 characters passed to the API As mentioned earlier, there are 475 hashes beginning with "21BD1", but only 1 which matches the remainder of the hash for "P@ssw0rd" and that record indicates that the password has previously been seen 47,205 times."
For example, say I want to check "gSAey27tgGsaEG". That hashes to c2e5dfb023cd42df94751581cba33b24bc011027. https://api.pwnedpasswords.com/range/c2e5d has no entry for fb023cd42df94751581cba33b24bc011027, so it's not even in the list of passwords.
Put another way, it averages a few hundred hashes per prefix based on the total password list size (~500M), but there's 2^136 possible has suffixes per prefix. There's no point in guessing that.